WH Group brings home the bacon

The Chinese pork producer has raised $2.05 billion, with the issuer experiencing strong retail uptake and anchor support in the restructured deal.

WH Group, the Chinese pork producer that pulled its high-profile $5 billion initial public offering earlier this year, raised $2 05 billion in a re-launched deal, buoyed by rallying Asian stock markets

The pork producer sold 2 56 billion shares at a fixed price of HK$6 20 per unit, people familiar with the situation said on Tuesday night

WH Group’s re-launched deal was offered at a cheaper valuation, with the fixed price putting the company’s forward p/e at 11 5 times 2014 earnings, much more attractive than the 15 to 20 8 times 2014 earnings marketed in the first attempt

Institutional investors were keen to snatch up the company’s shares at...

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